Project report for LORRY AND MINI LORRY SERVICE

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Introduction

The transportation system of a nation is very important for its financial improvement and social development of India. Transportation by road is favorable, convenient and mostly adopted way to the distribution of goods all over the country. Lorry and mini lorry services play a significant role in the road transportation system. The truck population in India is developing at a pace of 15% every year, taking the present number to more than 2,000 trucks for every million populace. The trucking industry is the most significant connection that encourages profitability and aggressive proficiency, prompting fast financial improvement of the nation through its contribution to the economy. The movement of goods across the country and beyond its borders has created economic opportunities for millions of India’s citizens.

Little trucks and Lorries have seen an inconceivable increase in their numbers. The light-duty and medium-duty truck divisions are seeing consistent numbers right now. Lorry and Mini Lorries offer numerous advantages over railways. For instance, in contrast to rail transport, Lorry can accept products in smaller quantities, they can also reach rural and hilly regions and also require less time than the rail for the loading and unloading of the products. Additionally, India’s strong economic growth has also been a major driver of the Lorry service industry.

Market potential & Strategy

The Indian lorry and truck market reached a value of INR 8,06,6430 Crores in 2020. India handles 4.6 billion tons of goods each year, amounting to a total annual cost of INR 9.5 lakh crore. These goods represent a variety of domestic industries and products: 22 percent are agricultural goods, 39 percent are mining products, and 39 percent are manufacturing-related commodities. Truck transport India is indeed on its road to success. India is witnessing rapid growth in the automobile sector especially the e-trucking business. There are more pros than cons about trucking business in India. Its fast replacing the dominance of railway dependent transportation owing to absolute low maintenance cost, better access to remote locations and swift delivery Another key benefit being the introduction of computerized trucking exchange, that is, the launch of e-trucking or truck trading websites. This online platform enables both truck owners as well as seekers of delivery vehicles connect with each other. Transportation business is very profitable if you start with effective business plan. There are lots of opportunities in this sector but one need to understand the current demand based on their geographical location.

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